Biden Nominates New FDIC Chair Amid Toxic Workplace Controversy

Christy Goldsmith Romero could replace Martin Gruenberg to lead the financial regulatory agency.

Federal Deposit Insurance Corporation Chairman Martin Gruenberg testifies before the Senate Banking, Housing and Urban Affairs Committee in Washington, on March 28, 2023. Win McNamee/Getty Images

President Joe Biden will nominate Christy Goldsmith Romero to lead the Federal Deposit Insurance Corporation (FDIC), replacing Martin Gruenberg, as the financial regulatory agency grapples with a toxic workplace scandal, the White House confirmed on Thursday.

Ms. Romero, a Democrat, joined the Commodity Futures Trading Commission (CFTC) in March 2022. She served 12 years at the Treasury Department, including a decade as the Special Inspector General for the Troubled Asset Relief Program (SIGTARP).